LIFE INSURANCE - CHOOSING A LIFE INSURANCE COMPANY

Getting Started

After you have thought about your financial needs and have become familiar with the basic types of life insurance, you will need to choose a company and agent.

How do I choose a company?

More than 2,000 companies in the United States sell life insurance. While some consumers prefer to buy policies directly from a company, most people buy life insurance through agents or brokers. Much of the information provided here will be helpful whichever way you decide to buy life insurance.

Before purchasing a policy, check the company's financial condition. You can do this by asking the agent or requesting information from your state's insurance department. A number of insurance rating services rate the financial strength of companies. These ratings can be found in large public or business libraries, or can be obtained directly from the rating service. There may be a fee for that information.

Also check with the state insurance department to be sure the company is licensed in your state.